CHANGE IN RATINGS
Amgen (AMGN Quote) upgraded at Bear:
AMGN was upgraded to Outperform at Bear Stearns. Fears of CERA launch are already priced in. $77 price target.
Duke Energy (DUK Quote) downgraded at Merrill:
DUK downgraded to Neutral rating from Buy at Merrill Lynch. Following the completion of Spectra Energy spin-off, Merrill believes that the company is fairly valued at these levels. New EPS estimates stand at $1.20 for 2007 and $1.25 for 2008.
Energy East (EAS Quote) downgraded at Merrill:
Merrill Lynch downgrades Energy East to sell based on valuation and increased regulatory risk.
First Solar (FSLR Quote) rated new Outperfrom at Credit Suisse:
Credit Suisse is initiating coverage on FSLR with an Outperfrom rating based on strong demand for PV modules. Sets $32 target price.
Genzyme (GENZ Quote) upgraded at Baird:
GENZ was upgraded from Neutral to Outperform at Robert Baird. $75 price target. Near-term competitive pressure on Renagel should be offset by the Renvela approval expected later this year.
Health Net (HNT Quote) upgraded to Buy at Merrill:
HNT upgraded to Buy rating from Neutral at Merrill Lynch. 2007 EPS estimates lift to $3.65 from $3.45. Price target set at $55.
Hyperion Solutions (HYSL Quote) downgraded at Merrill:
Merrill Lynch downgrades shares of Hyperion Solutions to neutral based on near term headwinds as the company enters a seasonally soft March quarter.
Imclone (IMCL Quote) upgraded at Merrill:
IMCL was upgraded from Sell to Neutral at Merrill Lynch. Erbitux sentiment may have turned too negative, relative to the potential for positive phase-III clinical data.
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TSC Staff
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